FIRST UNITED CORPORATION ANNOUNCES SECOND QUARTER 2023 DIVIDEND

Rhea-AI Summary

First United Corporation (NASDAQ: FUNC) has declared a cash dividend of $.20 per share, payable on May 1, 2023. Record holders of the corporation's common stock as of April 17, 2023 are eligible to receive this dividend. The announcement reflects the company's commitment to returning value to shareholders and highlights its ongoing financial stability.

As the parent company of First United Bank & Trust, First United Corporation operates various subsidiaries focused on commercial banking and real estate investment, including financing low-income housing projects in Maryland.

Positive

• Declared a cash dividend of $.20 per share.
• Dividend payable on May 1, 2023, indicating financial stability.

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• None.

OAKLAND, Md., March 8, 2023 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) announces that its Board of Directors declared a cash dividend of $.20 per share that will be payable on May 1, 2023, to holders of record of the Corporation's common stock as of April 17, 2023. 

About First United Corporation

First United Corporation is the parent company of First United Bank & Trust, a Maryland trust company with commercial banking powers.  The Bank's wholly-owned subsidiaries include OakFirst Loan Center, Inc. and OakFirst Loan Center, LLC, both of which are finance companies, and First OREO Trust and FUBT OREO I, LLC, both of which were formed for the purposes of holding, servicing and disposing of the real estate that the Bank acquires through foreclosure or by deed in lieu of foreclosure.  The Bank also owns 99.9% of the limited partnership interests in Liberty Mews Limited Partnership, which was formed for the purpose of acquiring, developing and operating low-income housing units in Garrett County, Maryland and a 99.9% non-voting membership interest in MCC FUBT Fund, LC, an Ohio limited liability company formed for the purpose of acquiring, developing and operating low-income housing units in Allegany County, Maryland.  The Corporation's website is www.mybank.com. 

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SOURCE First United Corporation

FAQ

What is the dividend amount declared by First United Corporation?

First United Corporation declared a cash dividend of $.20 per share.

When will the dividend for FUNC be paid?

The dividend will be payable on May 1, 2023.

What is the record date for the dividend?

The record date for the dividend is April 17, 2023.

How often does First United Corporation declare dividends?

Dividends are typically declared quarterly, but investors should check announcements for specific details.